In a joint statement on Friday 5th, fashion retailer Fossil and IT technology provider Intel announced a joint statement that they were working together on wearable technology projects. This is an interesting area of technology, we explore this further here.

Intel Statement

“We are focused on identifying trends and emerging uses of technology and accelerating wearable technology innovation worldwide,” stated Mike Bell, the vice President of Intel.

What is wearable technology?

Wearable technology (also called “fashion electronics”) are clothing and associated clothing accessories which utilise computer and very modern advanced electronic technology. Often the designs are purely for aesthetic reasons, but also on occasions have more practical functions and useful features.

An example of Intel wearable technology for the wrist

How can wearable technology help Fossil?

Fossil as a fashion retailer many believe have lost ground to competitors, their share price is down 14% in 2014 for example. Fossil are investing in wearable technology now as they believe this is a “trendy” and growth market within fashion. Only time will tell if they are right, but one thing is for sure wearable technology sales are only likely to go in one direction, “up, up, up”.

What are the business benefits of wearable technology?

Wearable technology has many business benefits here are just a few:

Improved remote working capabilities

Fast access to company resources via internet technologies

Tie in with barcode technologies for fast access to product information